60 Minutes: Unemployment is More Like 17-22%

  1. You have chosen to ignore posts from schadenfreude99. Show schadenfreude99's posts

    60 Minutes: Unemployment is More Like 17-22%

    8 days before an election and 60 minutes calls BS on the Obama Admin's unemployment numbers.
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    "The national unemployment rate of 9.5% percent sounds incredibly high and of course, it is. But, it doesn't nearly capture the depth of the trouble. It doesn't count the people who've seen their hours cut to part-time, it doesn't count the people who've quit looking for work. If you add all of that together, the unemployed and the underemployed, it's not 9.5% percent, it's 17% and here in California it's 22%."
     
  2. You have chosen to ignore posts from WhatIsItNow. Show WhatIsItNow's posts

    Re: 60 Minutes: Unemployment is More Like 17-22%

    I'd be more interested in the figure of unemployed + those who gave up looking.  Throwing in underemployed distorts the picture too.

    (But note:  That the unemployment figure does not include those who gave up looking is not an Obama Administration innovation.  That's been the figure's meaning for a long time.  Hell, it's econ 101 material.)
     
  3. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: 60 Minutes: Unemployment is More Like 17-22%

    The definition of unemployment is the definition.  It isn't something the dems made up.  And if it were left up to the repubs, the UR would have been lower due to fewer people receiving unemployment benefits.

    Bottom line - the economy stinks.  Everyone agrees with that.

    Personally, I think the economy is going to have a hard growing until the housing market sorts itself out and/or the Yuan significanlty appreciates in value.

    Something has to power the economy - either housing (preferable not) or manufacturing and the Yuan has to get straightened out before manufacturing can power us out of the recession.

    Although - a military build up would also work.  Build more ships, aircraft, bombs, tanks, etc.  That can only be built domestically.
     
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